Earnings OutlookF2Q outlook for deliveries, orders, average selling price, and gross margin were all slightly below analyst forecasts.
Financial PerformanceSpinCo's creation might lead to a reduction in gross margins for RemainCo, reflecting a potential decrease in profitability for the fraction of home sites spun off.
Market ReactionShares fell due to a rise in 10-year Treasury rates and concerns over increasing debt in mortgage applications.